TorFX Offer

- Bank-beating exchange rates
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- No fees and able to transfer in 30+ currencies
It’s actually much easier than it seems to send a large money transfer abroad. Banks can be helpful, but they also tend to charge high fees and offer poor rates. Specialist money transfer providers will give you better rates and lower fees.
But there are other alternatives, and the best way deto send money will depend on your specific situation. Taking things like speed, tax regulations, fees and more into consideration is also important when making your decision.
International money transfer providers exist to make the process of sending money overseas faster and more straightforward. They often offer some of the most competitive exchange rates for your large money transfer, and many charge far lower fees than what you’ll find at your bank.
Being able to send money for cash pickup is a convenient way to complete your international money transfer, particularly if you or your recipient doesn’t have a bank account to receive a large money transfer. Companies that offer cash-to-cash transfers include Ria Money Transfer, MoneyGram, Western Union and more.
Most banks are able to initiate an overseas transfer, but they tend to be the most expensive option. For small transfers, the familiarity and ease of using your local bank can be worth the fees and unfavourable exchange rate, but for a large money transfer, you’ll see a noticeable chunk taken from your transfer.
An international banker’s draft is issued by a bank on behalf of the payer and allows another bank, typically in another country, to draw funds directly from the issuing bank. International banker’s drafts can be drawn in a foreign currency, removing the need to speculate on future exchange rates, as funds are immediately converted when the international draft is created.
If you hold cryptocurrency, you can send it to a wallet anywhere in the world. Many cryptocurrency exchanges will also let you trade cryptocurrency for fiat currency, such as pound sterling or euros. That means it’s possible to exchange pound sterling for a cryptocurrency, like Bitcoin, and then trade your cryptocurrency for a different fiat currency, like euros. But that doesn’t mean it’s a simple process.
Cryptocurrency for international money transfers: How it works
The basic process for transferring money overseas using cryptocurrency is:
You’ll probably encounter percentage-based fees at each step, making cryptocurrency an expensive way to send a large money transfer .
The best option, of course, depends on your specific circumstances. But, while using your bank is convenient, overall using a money transfer specialist may end up being your least expensive option and offer stronger exchange rates. To get a baseline of what your large money transfer could cost, compare a few different money transfer providers.
Learn how to compare international money transfer services so you can get the best exchange rates and lowest fees.
Learn how to compare international money transfer services so you can get the best exchange rates and lowest fees.
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Paysend offers transfers to more than 70 countries through its app and online service.
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Learn how to compare international money transfer services so you can get the best exchange rates and lowest fees.
Who is your agent in Margao, Goa please ? How many pounds will my relative in UK get for Rs 5 lakhs and how many days will it take for the transfer please ?
Hi Luciano,
Thank you for getting in touch with finder.
500,000 Indian Rupees is equivalent to 5,373.17 British Pounds.
As a friendly reminder, while we do not represent any company we feature on our pages, we can offer you general advice.
In this page, you’ll see list of money transfer providers that you can choose to have your transaction with. You can contact these providers directly if they can assist you sending your money to Margao, Gao in India. All providers we link to are either FCA authorised or FCA registered, meaning that your money has a degree of protection from when it’s sent to when it has arrived. Most providers can realistically deliver your funds within a day, though allowing for 2-3 days is advised.
I hope this helps.
Have a great day!
Cheers,
Jeni